Wow - you really got a bunch of great responses to this thread.
My wife and I explored Bali for about 12 days recently. Had a great time everywhere - but I've got to agree with the post that said don't discuss politics! We found a very nice place to stay in Ubud for about US $15 per night - no air but it was very clean and had a great fan. The prices are really reasonable all over the island except perhaps in the big time resort beach areas.